Crypto payment card spending reached $759 million in July 2026, with nearly 8.8 million transactions recorded during the month, according to new data posted by a16z crypto on X. That compares with $306 million in spending and about 5.2 million transactions a year earlier.
a16z crypto said growth in purchase count has been tracking volume growth in a similar pattern. In its post, the firm said nearly 9 million purchases were made with crypto payment cards in July, up from about 5.2 million a year ago.
These cards let users spend crypto anywhere traditional card networks are accepted. At checkout, the crypto assets held by the cardholder, most commonly stablecoins, are automatically converted into local fiat currency, so the merchant sees the payment much like any other card transaction.
Average transaction size was about $86
Using the reported July totals, average spending per transaction works out to roughly $86. The report said that places crypto card usage closer to routine purchases such as dining, shopping and subscription services, rather than large one-off transfers.
That marks a different use case from ordinary on-chain transfers. Depending on the issuer’s setup, users may deposit stablecoins with the card provider for custody, or keep assets in self-custody on-chain and convert them in real time when they pay with the card. For stablecoin holders, the card offers a direct route from on-chain balances to day-to-day spending. In many regions, it can also function as an indirect way to access something like a dollar account.
Several issuers are active, with RedotPay leading by volume
The market now includes several card programs, among them RedotPay, EtherFi, KAST, Karta, Plasma One, Tria and Wirex One. The report said RedotPay has the largest card spending volume and contributes the biggest share of the overall growth curve.
Concentration is also visible on the transaction side. The story said most transaction count is split among a small group including RedotPay, EtherFi and Bitget Wallet. That leaves the broader trend line sensitive to any change in reporting methodology or operating conditions at one of those providers.
Stablecoin mix has changed sharply in two years
Paymentscan data showed a marked shift in which stablecoins dominate crypto card spending. In July 2026, USDC accounted for 58% of spending and USDT for 26%, putting the two together at more than 80% of the total.
In early 2024, by contrast, euro stablecoin EURe at one point held as much as 88% share. Over two years, the center of gravity moved from a euro-denominated stablecoin to dollar-denominated USDC and USDT. The report linked that change in part to crypto card usage expanding beyond Europe into a broader global market.
Dataset includes self-reported figures
The report also noted limits in the underlying data. RedotPay, which accounts for the largest share, reports its card spending figures itself, and those numbers are not fully verifiable on-chain. Paymentscan said its database includes both on-chain activity attributable to tracked card programs and off-chain spending figures that some issuers report directly.
That means the accuracy of the data depends in part on how truthfully issuers report their numbers.
Still small next to the traditional card market
Even at $759 million for the month, crypto card spending remains a small figure compared with the multi-trillion-dollar scale of the global traditional card payments market. The story added that regulators in different jurisdictions are still addressing rules for KYC, foreign exchange controls and consumer protection tied to crypto card issuers, all of which could affect whether the current growth trend continues.
Still, the report argued that the practical value of crypto cards lies in opening an alternative path to dollar-linked account access in regions without well-developed banking systems, while turning stablecoin balances that once stayed mostly on-chain into spending power that can be used in stores, restaurants and other everyday settings.